Afternoon all.
$BTC countdown now under 10 days!
Not a great deal to add, but last time I mentioned that it looked good for Bitcoin and the altcoins if the positive sentiment driving stocks was maintained.
Well, to that point, on the evening the US stocks futures for the $NSDQ100 hit a new recovery high of over 9,100, that is the night that Bitcoin peaked at over $9,400 during the overnight Asia session.
Stocks spent the last 2 days of the week selling off and the crypto market has stalled during this time. That correlation to risk is there at the moment. It would be nice to break this as there is some growing concern that stocks need to drop further to reflect that economic being done across the globe during this pandemic.
At the end of next week there is the US NFP report which will show a very nasty looking number regarding job creation in April and an unemployment % which could be over 12%.
A lot of this should be priced into markets but it could still prove a reality check to the how well stocks have been recovering. That will be released just a few days before the halving so it could setup quite a volatile day during that final countdown.
I’ll update again when the countdown goes under 1 week to go.
HODL tight!!
Stay safe, thanks for your time.
